{
  "id": 13886576,
  "title": "India vs US: How parents plan for retirement",
  "url": "https://urgent.news/2026/10/12/india-vs-us-how-parents-plan-for-retirement",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T01:00:00.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/wealth/plan/retirement-in-india-vs-the-us-how-parents-balance-financial-security-caregiving-and-inheritance/articleshow/134847000.cms"
  },
  "original_language": "en",
  "account": "While volunteering at an assisted living facility, the reporter heard many stories about parenting, old-age income security, bequests and assets. In the United States, assisted living is the last choice for seniors who prefer their independence and privacy. Culturally, they like to stay active and maintain their own routines, often mowing lawns, driving cars, and cooking meals well into their 80s. Life expectancy is higher in developed economies, giving seniors enough time to plan their work, retirement, and geriatric care. Many continue to work as long as they can, taking on jobs such as forest rangers, library assistants, or practicing doctors. Seniors prefer to keep their income flowing and maintain flexibility to travel and enjoy a private life.\n\nThe dominant financial asset for middle-class working Americans is their retirement savings in 401K accounts or Roth IRAs. As one moves up the hierarchy of prosperity, assets include properties, farms, financial assets, art, and collectibles. The wealthy often set up trusts to manage their assets and distribute benefits to heirs and beneficiaries. Wills and probates are seen as cumbersome and costly, leading to the popularity of trusts, especially among the upper-middle class who hold multiple properties. In some cases, adult children may take on caregiving responsibilities for their aging parents, and there is a growing trend of adult children returning to live with their parents, known as the 'boomerang generation.'\n\nIn contrast to the American Indian culture, Indian parents in their homeland or among Indian-origin Americans in the US tend to enrol in senior living facilities from a young age, typically in their late 50s. Facilities offer food, accommodation with daily maintenance, recreation, social interaction, and medical care. Independent living is still an option, but hiring help is preferred over managing alone. Indians often spend heavily on their children's education, from kindergarten to post-graduation, and lavish weddings across income levels. Retirement at 60 years is common, with many drawing defined benefit pensions from government or PSU jobs. Confidence in savings and investments is high among retirees, who began investing in financial assets during the IPO boom of the 1970s. Parents also provide financial support to their adult children as needed, and it is easy to hold assets jointly with children or transfer wealth through gifts. Wills and trusts are growing in appeal, but trusts are not popular among most families.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}